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Morehouse Industries Ends Quarter With Slim Gain

EARNINGS

March 24, 1985|BRUCE HOROVITZ

Morehouse Industries Inc. reported second-quarter profits of $10,600 for the period ended Feb. 28, as compared to a $62,000 loss in the year-ago quarter.

The Fullerton-based manufacturer of industrial equipment for the chemical process industries credited a resurgence of overseas sales combined with new product introductions for the turnaround. For the quarter, the company said its sales increased 63%, to $1.2 million, from revenues of $746,000 during the comparable 1984 period.

However, the company reported a loss for the first half of its fiscal 1985, as it did for the first six months of 1984. In its 1985 first half, Morehouse lost $58,700, compared to a loss of $65,700 in the year-ago period. Sales for the period were $1.97 million, a 9% increase from the $1.8 million reported in the comparable period last year.

During the past three years, the company has brought nearly $1 million worth of capital equipment on line that is producing new products more quickly and economically, said E.J. Szkaradek, the company's president and chief executive.

Szkaradek said he did not want to forecast the company's outlook for the rest of the year, but he did note that "the industry will continue to get much more competitive."

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